Nifty rallies towards 11000 above time cycle low

By | December 19, 2018 9:08 pm

  • FII’s bought 5.3 K contract of Index Future worth 501 cores 11.2 K Long contract were added by FII’s and 5.8 K Short contracts were added by FII’s. Net Open Interest increased  by 17.1 K contract, so rise in Nifty was used by FII’s to enter  long and enter  short in  Index futures.FII’s Long to Short Ratio at 0.87 .Is Your Trading Brain Not letting you Succeed in Trading ?
  • As Discussed in Last Analysis  Low made 10819 and we closed above 10900 suggesting we will be soon moving towards 10945/11000/11050. Bears will get active below 10816 for a move towards 10777/10721.High made today was 10985 so bulls are almost near the target of 11000. Bulls need a close above 11000 for a move towards 11050/11100. Bears will get active below 10930 for a move back to 10885/10821. Tomorrow is important time cycle date  Important intraday time for reversal can be at 9:52/2:08. Bank Nifty Close above 27000,EOD Analysis

  • Nifty Dec Future Open Interest Volume is at 2.12 core with addition of 1.1 Lakh with  decrease in  cost of carry suggesting long position were added today, NF Rollover cost @10727 closed above  it.
  • 11000 CE  is having Highest OI  at 38.2 Lakh, resistance at 11000 followed by 11100 .10400-11000 CE liquidated 25 lakh in OI so bears  covered position in range of 10800-11000. FII bought 238 CE and 2.8 K CE were shorted by them. Retail bought 34.8 K CE and 28.3 K CE were shorted by them.
  • 10800 PE OI@ 38 Lakhs having the highest OI strong support at 10800 followed by 10700 . 10500-11000 PE added 8.2 Lakh in OI so bulls added position in range 10700-10800 PE. FII bought 790 PE and 2.2 K PE were shorted by them. Retail bought 55.1 K CE and 26.9 K CE were shorted by them.
  • Total Future & Option trading volume at1 8.34  Lakh core with total contract traded at 0.94  lakh , PCR @1

Buy above 10985 Tgt 11010,11030 and 11050 (Nifty Spot Levels)

Sell below 10930 Tgt 10905,10885 and 10850 (Nifty Spot Levels)

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Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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